Leslie Roy Moonves is an American media executive who served as the Chairman and CEO of CBS Corporation from 2003 until his resignation in September 2018 following numerous allegations of sexual harassment and abuse. He has been married to TV personality Julie Chen since 2004.
Entertainment giants Cbs and Viacom are to merge in the latest media mega-deal as broadcasters adapt to changing consumer demands.
The Deal would reunite the two firms, which were previously under the same corporate umbrella until a 2006 split.
The Move comes amid an increasingly competitive landscape dominated by Netflix, Disney-Fox and other rivals.
There have been at least three attempts to re-combine the companies, but all failed due to clashes between executives and investors over who got The Top jobs as well as the valuations of The Business .
they expected about $500m cost savings from the tie-up, which brings together A Movie studio, string of cable channels, and some of US TV's most-watched shows, including 60 Minutes and The Big Bang Theory.
In addition to their US operations, the merged group will have a global reach, including in Britain, Argentina and Australia.'Content is king'
"I am really excited to see these two great companies come together so that they can realise the incredible power of their combined assets," said Shari Redstone , who will chair the new company, ViacomCBS.
The Daughter of Sumner Redstone said: "My Father once said 'content is king,' and never has that been more true than today. We will establish a world-class, multiplatform media organisation that is well-positioned for growth in a rapidly transforming industry. "
Shari Redstone had been a big backer of re-combining the companies in The Face of tough competition. The mergers of Disney with Fox, and AT& T and Time Warner, coupled with expanding streaming services, left Cbs and Viacom in a weaker Position .